Crude tanker MT ST 3 struck in the Strait of Hormuz as a second Singapore container ship is damaged

A projectile struck the crude oil tanker MT ST 3 in the Strait of Hormuz, India's ports, shipping and waterways minister Sarbananda Sonowal said on 16 October, The National reported. All 15 Indian crew members are safe and not hurt. The report did not give the tanker's flag or owner, or the extent of the damage.

Earlier in the week, two Singapore-registered container ships were hit in the strait, according to Singapore's Maritime and Port Authority as cited by Asia Insurance Review. GFS Pride burned and sank after a strike on 13 October, and all 21 crew were evacuated. GFS Giselle took hull damage on 14 October but reached anchorage under its own power, with its 22 crew safe. For insurers, the publication pointed to a possible large hull loss on Pride, repair and business interruption costs on Giselle, and closer attention to war-risk terms.

Insurance Business reported on 14 October that UKMTO has recorded attacks on more than 20 vessels, most of them tankers, since 1 October. Brokers quote additional war-risk premiums of 6% to 10% of hull value for tankers in the region, against about 0.25% before the conflict began on 28 February. As background, the publication cited a Howden Re estimate from August, before the October strikes, that put war, terror and political violence claims at $2bn to $3bn. It set this against estimated annual global premium for the segment of $1.5bn to $2bn.